ValuEngine Downgrades Tutor Perini (TPC) to Strong Sell
Tutor Perini (NYSE:TPC) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Saturday.
TPC has been the subject of a number of other research reports. Zacks Investment Research upgraded Tutor Perini from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Saturday, July 7th. MKM Partners set a $28.00 target price on Tutor Perini and gave the stock a “buy” rating in a research note on Tuesday, August 28th. Finally, B. Riley cut their price target on Tutor Perini from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Tutor Perini currently has a consensus rating of “Buy” and an average target price of $29.75.
Shares of TPC stock opened at $20.05 on Friday. The firm has a market capitalization of $1.00 billion, a P/E ratio of 13.19, a PEG ratio of 0.92 and a beta of 2.08. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.46. Tutor Perini has a 1 year low of $17.55 and a 1 year high of $29.90.
In other Tutor Perini news, CEO Ronald N. Tutor sold 32,574 shares of the stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $20.10, for a total transaction of $654,737.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 27,433 shares of the firm’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $20.02, for a total value of $549,208.66. Following the sale, the insider now owns 5,698,983 shares in the company, valued at $114,093,639.66. The disclosure for this sale can be found here. Insiders have sold a total of 117,574 shares of company stock worth $2,367,300 over the last ninety days. 24.50% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the company. OppenheimerFunds Inc. grew its position in shares of Tutor Perini by 25.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 18,761 shares of the construction company’s stock valued at $346,000 after acquiring an additional 3,781 shares during the period. Systematic Financial Management LP grew its position in shares of Tutor Perini by 6.8% during the 2nd quarter. Systematic Financial Management LP now owns 68,205 shares of the construction company’s stock valued at $1,258,000 after acquiring an additional 4,370 shares during the period. Victory Capital Management Inc. grew its position in shares of Tutor Perini by 65.9% during the 1st quarter. Victory Capital Management Inc. now owns 12,223 shares of the construction company’s stock valued at $270,000 after acquiring an additional 4,856 shares during the period. Northern Trust Corp grew its position in shares of Tutor Perini by 0.7% during the 1st quarter. Northern Trust Corp now owns 905,959 shares of the construction company’s stock valued at $19,977,000 after acquiring an additional 6,517 shares during the period. Finally, Pinnacle Associates Ltd. grew its position in shares of Tutor Perini by 8.4% during the 1st quarter. Pinnacle Associates Ltd. now owns 109,360 shares of the construction company’s stock valued at $2,411,000 after acquiring an additional 8,500 shares during the period. Hedge funds and other institutional investors own 86.68% of the company’s stock.
Tutor Perini Company Profile
Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.
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